वि.सं:
नेपाल संवत: ११४५ चिल्लाथ्व पुन्हि - १५
वि.सं:
नेपाल संवत: ११४५ चिल्लाथ्व पुन्हि - १५
The Embassy of Nepal organized an interaction program on the theme of trade and investment potentials between Nepal and the United Kingdom at the Embassy premise on 27 February 2025. The thrust of the event was to explore ways and means towards promoting Nepali goods and services in the UK as well as enhancing the UK FDI flow to Nepal.
Highlighting the efforts made by the Government of Nepal in attracting FDI and the UK’s position in the global FDI together with financial vibrancy of London, His Excellency Mr. Chandra Kumar Ghimire stressed the immense prospects of FDI flow from the UK to Nepal in green projects and lucrative sectors of hydropower, infrastructures, financial services, manufacturing, among others. Illuminating on the institutional and legal arrangements and the constant progress in Nepal’s trade and investment policies and laws, Ambassador Ghimire also called for the British investors and businessmen to make Nepal their next investment destination. Stressing on the need of Business to Business (B2B) and Government to Government (G2G) bilateral mechanism, the Ambassador committed to extend facilitation to FDI and trade initiatives with a high priority.
The program witnessed a live interaction with around 50 businessmen and investors. Voices relating to the absence of essential laws including the Double Taxation Avoidance Agreement (DTAA), need to exchange high-level political visits and business delegation, and expediting facilitation on matters of trade and investment upon need were raised by the participants.
Speaking at the program, H.E. Mr. Rob Fenn, British Ambassador to Nepal, marked the great relationship between Nepal and the UK and appreciated several initiatives undertaken by the Government of Nepal in recent times towards improving business climate including the investment summits, the Sagarmatha Sambaad and shared the scope of Nepal-UK collaboration in terms of higher education, export finance, FDI, among others. Referencing the role of FDI in UK economy itself, Ambassador Fenn highlighted tourism, wellness tourism, agro-processing, renewable energy and IT as the prime areas of Nepali economy.
Head of South Asia Regional Department in the Foreign, Commonwealth and Development Office Ms. Lesley Craig appreciated the thriving IT sector in Nepal and emphasized on the need of regular update on economic policy reforms made by Nepal to be able to help translate the camaraderie subsisting between the two countries into economic partnership. Ms. Craig’s thrust was on inclusive growth including the incorporation of women in business.
Ms. Tamanna Ali from the Department of Business and Trade shared how the DBT is working to align business priorities between UK and the respective partner countries.
Finally, H.E. Ambassador Ghimire stressed the need to work further on the existing draft of the DTAA, underscored Nepal’s huge diasporic presence in the UK as an asset and appealed business leaders from the diaspora to connect Nepal and UK with multifarious businesses for mutual benefits.
Embassy of Nepal,
London
28 February 2025
